The fintech provides an API that allows consumers to access their salary and employment information and share it with third parties, such as banks, insurance companies, lenders, and others. This financing round is led by Lightbird, other sponsors include Flash Ventures, Global Founders Capital, FinVC, Nauta Capital, and business angels. The new funds are to be invested primarily in further product development and entry into several European markets, starting with Germany and the UK.
According to a Mistho representative, the company believes that consumers have the right to share their financial data directly with third parties, regardless of the systems that hold that data. With the Open Payroll solution, the company aims to give people in Europe the opportunity to share their income data directly and securely with companies.
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